Finance Secretary Ajay Seth on Saturday, March 29, said we are currently in the midst of a very tough global environment, both geopolitical as well as economic. He was addressing the 100th Skoch Summit at India Habitat Centre in New Delhi.”And it is in my sense that economic difficulties are being faced by different nations, be it developed or developing, that is getting accentuated in their geopolitical stance. It is not the other way round,” he said.
The Finance Secretary said there are more uncertainties and going forward he does not see them subsiding at least in the medium term. Maybe in the long period we are in the era of uncertainties, he said.
Nations today seem to be moving away from cooperation to more competition, Seth said, adding that this is because of the economic difficulties that they are facing.For India, he said agriculture and manufacturing growth are important. He said it is necessary to be conscious about investing in people, economy and innovation.”We need to grow fast over a sustained period of time. At least 20 to 25 years at a pretty high pace with inclusive development,” he said.Seth also said that going forward, the export engine will not be performing at the best of its ability, there are headwinds.Also Read: ‘Road to $500-billion mission’: Electronics PLI scheme gets a resounding welcomeFirst Published: Mar 29, 2025 12:27 PM IST
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